Bitcoin BTC/USD are traded at 8494 and continue to move in a downward trend. At this point, we should expect a test of the resistance area near the level of 8750. Again, we should expect a rebound and an attempt to continue falling Bitcoin with a target below 7000.
Bitcoin forecast & technical analysis February 4, 2018
In favor of falling quotes BTC/USD will test the resistance line on the indicator of relative strength index (RSI). The abolition of the Bitcoin reduction option will be a strong growth and breakdown of the area of 9500, which will indicate the continuation of the growth of BTC/USD above the level of 10200. With the breakdown of the lower bound of the «Triangle» model and the closing below the level of 7900, it is expected to accelerate the drop of Bitcoin quotations.
Bitcoin forecast & technical analysis February 4, 2018 involves testing a resistance level near 8750 and continuing to fall below 7000, an additional signal in favor of Bitcoin drop will be a resistance line test on the relative strength index (RSI).
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